I was criticized on a news show earlier today referring to this exercise as a 6-hour photo op. Probably I would fall into the category as a ``plummet.'' Isn't it interesting that, yes, premiums for the average family may increase for 10 to 12 percent, but that's okay. Instead of an apple, you get an orange, so you're coming out better in the deal. Now, yesterday, in our Committee on Oversight and Investigations, we hauled in Anthem Insurance Company in California. And Anthem, to their great discredit, chose right now as a time to increase their premiums, and they have become the whipping boy and the poster child. And I will concede, I think they raised their premiums too fast. They were tone deaf. Their highest premium increase was 39 percent. Their average was 25 percent. Twenty-five percent. Okay, that seems high, but the President's already said 12 percent. Yeah, that's okay because you get an orange instead of an apple, so after all, you're good in that transaction. So I guess if Anthem wanted to raise their rates, they probably should have stayed at that 12 percent rate. They would have been right in line with the President of the United States.
Michael Burgess: “I was criticized on a news show earlier today referring to this exercise as a 6-hour photo op. Probably I would fall…”
Editor's note · Context
The speaker discusses insurance premium increases and the implications for families.
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